LinaJ2020
Expert Alumni

Get your taxes done using TurboTax

 

 

For the new year 2020, you do not claim any allowances anymore. 

 

They are no longer used for the redesigned Form W-4. This change is meant to simplify the form. In the past, the withholding allowance was tied to the amount of the personal exemption. Due to changes in the law, Tax Cuts and Job Acts, on your 2019 taxes, you cannot claim personal exemptions or dependency exemptions.

 

Instead of claiming allowances, employees would now use the W-4 form to provide their employer with the information needed to determine the amount of income tax to withhold. You would be asked to include things like your expected filing status, family income from other jobs, number of dependents, and tax deductions you plan to claim. Once your employer has the necessary information, the company will take it from there and do the necessary calculations.

 

 

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